SOUTH SAN FRANCISCO, Calif., Sept. 03, 2024 (GLOBE NEWSWIRE) -- Tenaya Therapeutics, Inc. (NASDAQ: TNYA), a clinical-stage biotechnology company with a mission to discover, develop and deliver potentially curative therapies that address the underlying causes of heart disease, today announced that Faraz Ali, Tenaya's chief Executive Officer, will participate in several upcoming investment conferences. Details are as follows: Morgan Stanley 22nd Annual Global Healthcare Conference Date: Thursday, September 5, ...

Financial Performance - The company reported a net loss of $29.4 million for the three months ended June 30, 2024, compared to a net loss of $33.3 million for the same period in 2023, reflecting a year-over-year improvement of $3.8 million, or 12%[54] - Net loss for the six months ended June 30, 2024, was $61.7 million, a decrease of 5% from a net loss of $65.0 million for the same period in 2023[64] - Net cash used in operating activities for the six months ended June 30, 2024, was $52.3 million, compared to $56.5 million in 2023[73] Operating Expenses - Total operating expenses decreased to $30.8 million in Q2 2024 from $35.1 million in Q2 2023, a reduction of $4.3 million, or 12%[54] - General and administrative expenses were $8.2 million in Q2 2024, down from $8.6 million in Q2 2023, reflecting a decrease of $0.5 million, or 5%[58] - Research and development expenses were $22.6 million for the three months ended June 30, 2024, down from $26.5 million in 2023, representing a decrease of $3.8 million, or 14%[56] - Research and development expenses decreased by $4.4 million, or 8%, to $47.7 million for the six months ended June 30, 2024, compared to $52.1 million in 2023[61] - General and administrative expenses remained flat at $16.9 million for the six months ended June 30, 2024, compared to $16.7 million in 2023[62] Cash Flow and Investments - Net cash provided by investing activities was $17.1 million for the six months ended June 30, 2024, compared to $33.1 million in 2023[74] - Net cash provided by financing activities increased significantly to $47.3 million for the six months ended June 30, 2024, primarily from a follow-on offering[75] - As of June 30, 2024, the company had cash, cash equivalents, and investments in marketable securities totaling $99.3 million[65] Funding and Financial Position - The company has an accumulated deficit of $464.9 million as of June 30, 2024[65] - The company expects to continue incurring operating losses and will require substantial additional funding to complete the development and commercialization of its product candidates[70] Clinical Development - The company initiated dosing in the MyPEAK-1 Phase 1b clinical trial for TN-201 in October 2023, with initial data expected in the second half of 2024[51] - TN-401 received FDA clearance for clinical testing in October 2023, with patient dosing planned to start in the fourth quarter of 2024[52] - TN-301 showed positive data in a Phase 1 clinical trial, indicating it was well tolerated and demonstrated dose proportionality, supporting its continued development for HFpEF[52] - The company received rare pediatric disease designation from the FDA for TN-201 in MYBPC3-associated HCM in July 2024[51] Workforce and Cost Management - A workforce reduction plan was implemented, resulting in a 22% decrease in personnel, aimed at cost containment while focusing on clinical-stage gene therapy programs[53] Interest Income - Interest income decreased to $1.4 million in Q2 2024 from $1.8 million in Q2 2023, a decline of $0.4 million, or 24%, primarily due to lower cash and investment balances[54] - Interest income decreased by $1.0 million, or 25%, primarily due to lower cash, cash equivalents, and investment balances[63] Company Classification - The company is classified as an emerging growth company under the JOBS Act and will maintain this status until it exceeds $1.235 billion in annual revenue or meets other specified criteria[80] - The company is also a smaller reporting company, with a market value of stock held by non-affiliates below $700 million and annual revenue under $100 million in the most recently completed fiscal year[80] - The company may continue to rely on exemptions from certain disclosure requirements as a smaller reporting company, including presenting only the two most recent fiscal years of audited financial statements[81] - The company has opted to use an extended transition period for complying with new or revised accounting standards, which may affect the comparability of its financial statements[80] - The company will remain a smaller reporting company if its market value remains below $250 million or if its annual revenue stays below $100 million while the market value is under $700 million[81] - The company is not required to provide quantitative and qualitative disclosures about market risk due to its smaller reporting company status[82]

Financial Performance - Tenaya Therapeutics reported a net loss of $29.4 million, or $0.34 per share, for Q2 2024, compared to a net loss of $33.3 million, or $0.45 per share, for the same period in 2023[7]. - General and Administrative (G&A) expenses for Q2 2024 were $8.2 million, compared to $8.6 million in Q2 2023, with non-cash stock-based compensation included in G&A at $2.4 million[7]. - Tenaya's total operating expenses for Q2 2024 were $30.8 million, down from $35.1 million in Q2 2023[10]. Cash and Funding - As of June 30, 2024, Tenaya had cash, cash equivalents, and marketable securities totaling $99.3 million, which is expected to fund operations into the second half of 2025[7]. - Tenaya established a $45 million credit facility with Silicon Valley Bank, allowing for up to $15 million upon closing and an additional $30 million based on milestones[6]. Research and Development - Research and Development (R&D) expenses for Q2 2024 were $22.6 million, down from $26.5 million in Q2 2023, with non-cash stock-based compensation included in R&D at $2.2 million[7]. - The company plans to initiate dosing in its Phase 1b trial of TN-401 in the fourth quarter of 2024, with four clinical sites activated[3]. - Tenaya anticipates sharing interim Phase 1b results from the first cohort of patients in MyPEAK-1 in the second half of 2024[2]. - Interim data from the RIDGE™ study indicated that 84% of adults with PKP2-associated ARVC had neutralizing antibody titers of less than 1:20, meeting eligibility criteria for the trial[4]. Regulatory Designation - Tenaya received Rare Pediatric Disease Designation from the FDA for TN-201, which may qualify the company for a priority review voucher upon approval[2].

Pediatric Cardiologist and Genetic Therapy Expert Barry J. Byrne, M.D., Ph.D., Joins Scientific Advisory Board Kathy Ivey, Ph.D., Vice President of Gene Therapy Research, will be promoted to Senior Vice President, Research, with responsibility for all Tenaya's non-clinical research and discovery work. Timothy Hoey, Ph.D., who has served as Tenaya's Chief Scientific Officer since 2017, will step down from his role. Dr. Hoey will remain with the Company in an advisory capacity, including joining Tenaya's Scie ...

Pediatric Cardiologist and Genetic Therapy Expert Barry J. Byrne, M.D., Ph.D., Joins Scientific Advisory Board SOUTH SAN FRANCISCO, Calif., June 27, 2024 (GLOBE NEWSWIRE) -- Tenaya Therapeutics, Inc. (NASDAQ: TNYA), a clinical-stage biotechnology company with a mission to discover, develop and deliver potentially curative therapies that address the underlying causes of heart disease, today announced changes to its Research leadership team, including new appointments to the company's Scientific Advisory Boar ...

SOUTH SAN FRANCISCO, Calif., June 18, 2024 (GLOBE NEWSWIRE) -- Tenaya Therapeutics, Inc. (NASDAQ:TNYA), a clinical-stage biotechnology company with a mission to discover, develop and deliver potentially curative therapies that address the underlying causes of heart disease, today announced that Faraz Ali, Chief Executive Officer, will participate in the TD Cowen Genetic Medicines & RNA Summit on Friday, June 21, 2024, at 11:20 am ET. The live presentation will be webcast and may be accessed from the Investo ...

Commission File Number: 001-40656 UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ________ to _________ TENAYA THERAPEUTICS, INC. (Exact name of registrant as specified in its charter) Delaware 81-3789973 (St ...

Exhibit 99.1 Tenaya Therapeutics Reports First Quarter 2024 Financial Results and Provides Business Update Initial Data from Ongoing MyPEAK TM-1 Phase 1b of TN-201 Expected in Second Half of 2024 Clinical Sites Activated for RIDGE TM-1 Phase 1b Clinical Trial of TN-401 Announced Cost Containment Measures in Alignment with Focus on Generating Data from Clinical-Stage Gene Therapy Programs Raised $47 Million Net Proceeds in First Quarter Financing; Current Cash Runway into Second Half of 2025 SOUTH SAN FRANCI ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 (I.R.S. Employer Identification No.) (Address of principal executive offices) (Zip Code) For the fiscal year ended December 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM___________TO___________ Commission File Number 001-40656 TENAYA THERAPEUTI ...

Exhibit 99.1 Tenaya Therapeutics Reports Fourth Quarter and Full Year 2023 Financial Results and Provides Business Update Initial Data from Ongoing MyPeak™-1 Phase 1b of TN-201 for MYBPC3-associated HCM Expected in Second Half of 2024 On Track to Dose First Patient in RIDGE™-1Phase 1b Clinical Trial of TN-401 for PKP2-associated ARVC in Second Half 2024 $47 Million Net Proceeds from Recent Financing Extends Cash Runway into Second Half of 2025 SOUTH SAN FRANCISCO, Calif., March 18, 2024 -- Tenaya Therapeuti ...